THE COOK ISLANDS

Otago Daily Times, Issue 21387, 15 July 1931, Page 8

THE COOK ISLANDS

FINANCIAL DEPRESSION COPRA MARKET STAGNANT (From Our Parliamentary Reporter.) WELLINGTON, July 14. Financial depression is showing itself in the Cook Islands territory, according to the annual report which was tabled in the House of Representatives to-day. Copra, the mainstay of the people, is practically unsaleable in the world's markets, and in keeping with the reductions being imposed in New Zealand all services have been seriously curtailed. A pleasing feature of the year’s operations is the increase in the native birth rate, which has reached the high rate of 19.73 per 1000 in Rarotonga. The excess exports total £5970, and, with the exception of 1921, the total value. of trade, £212,906, is lower than for any year since 1918. This is attributed to the low prices ruling for products. In Aitutaki more planting is being done than ever, following on the hurricane in February, which destroyed nearly all the crops. The finances of Niue have been crippled not only by four cyclonic storms, which devastated the crops, food supplies, and houses, but also by the depression in the copra market. Reference is made to the appeals of the Cook Islands’ producers for protection against the heavy importations of citrus fruits and banqnas from sources outside the Dominion territories. It is held that, given reasonable protection and suitable shipping facilities, our own territories would be able to provide New Zealand with all the tropical products and tomatoes required, and the Islands would to a greater measure become selfsupporting. Reference is also made to the ship Maui Pomare. It is estimated that for the year the loss in revenue is £12,500. The revenue account shows a loss on the actual working expenses of £14,649, including £9563 on account of repairs, against which a claim is being made against the builders.